Loans

Student Loans

Definitions»

Lenders:The lenders are banks, credit unions, savings and loan institutions, and insurance companies who participate in FFELP are eligible to provide funds for federally sponsored education loans. The lender is the holder of the loan. Your lender may sell your loan to a secondary market; however, the terms and conditions of your loan remain the same.

·A lender may retain the borrower’s promissory note while in school and through the repayment time period, while other lenders may sell the note to a secondary market for repayment. A borrower should contact the lender selected to determine their specific process.

·A borrower has the right to cancel their student loan, in part or in full. Notify the TTUHSC Financial Aid Office to make this request.

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